Funding arb · Price arb /

CASHCAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1368%/8h= +149.8% APRpaid last 24h −0.109%

Price spread now: BingX against Lighter+0.368%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$700.702% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.548%−$55 on $10k

Price spread, last 7 days−0.358%−$36 · spread now +0.368%, 7d avg −0.025%

Together, before fees−0.906%+ Points / potential airdropLighter: Season 3 · farm board−$91 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and BingX is 0.394% dearer against Lighter than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.025%. Mind the row above: over the last 7 days funding on this pair cost −0.548%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.548% in total (about -28.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter CASHCAT	0.1684	0.1784	pay 0.0223% / 1h	56m 48s	$1.2M	$1.9M	3x
Short	BingX CASHCAT-USDT	0.1690	0.3152	get 0.1576% / 4h	3h 56m	—	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee BingXbpOrdersPrice spread, now +0.368%Rate

Funding earned: $287.28
Price spread: +0.368% → −0.025%: $39.37
Slippage, 4 orders: −$60.23
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $256.42
Costs to cover: 0.702%
Break-even: 0.8 days

Slippage from Lighter: live order book, 10 min ago; BingX: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 10 min ago	4.69 bp	8.5 bp −$8	40.6 bp −$406	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	8.84 bp	29.4 bp −$29	83.8 bp −$838	560.8 bp −$56.1K	1053.6 bp −$526.8K

CASHCAT on 22 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado CASHCAT-PERP	+0.0100%	1h	0.1683	−0.024%	$260K	$182K	5x	as long as short
Hyperliquid CASHCAT	+0.0100%	1h	0.1684	+0.024%	$46.6M	$20.5M	3x	as long as short
OKX CASHCAT-USDT-SWAP	+0.0100%	4h	0.1689	+0.309%	$1.2M	$10.8M	20x	as long as short
Gate CASHCAT_USDT	+0.0100%	4h	0.1683	−0.048%	$1.4M	$2.0M	20x	as long as short
KuCoin CASHCATUSDTM	+0.0100%	4h	0.1684	+0.042%	$604K	$2.4M	10x	as long as short
Variational Omni CASHCAT	+0.0100%	4h	0.1682	−0.097%	$1.4M	$1.5M	—	as long as short
ApeX Omni CASHCATUSDT	+0.0100%	1h	0.1652	−1.912%	$75K	$72K	50x	as long as short
Polymarket Perps CASHCAT-USD	+0.0100%	1h	0.1683	−0.018%	$68K	$1.3M	3x	as long as short
SunX CASHCAT-USDT	+0.0100%	1h	0.1676	−0.442%	—	$2.6M	10x	as long as short
SoDEX CASHCAT-USD	+0.0100%	1h	0.1683	−0.024%	$505	$1K	3x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX CASHCAT-USDT	+0.0100%	1h	0.1682	−0.101%	$17K	$387K	10x	as long as short
edgeX CASHCATUSDC	+0.0101%	4h	0.1668	−0.968%	$50K	$171K	5x	as long as short
BloFin CASHCAT-USDT	+0.0340%	4h	0.1688	+0.249%	$51K	$499K	20x	as long as short
Extended CASHCAT-USD	+0.0480%	1h	0.1684	−0.005%	$99K	$468K	5x	as long as short
Lighter RH CASHCAT	+0.1248%	1h	0.1685	+0.053%	$326K	$840K	3x	as long as short
Lighter CASHCATlong	+0.1784%	1h	0.1684	long leg	$1.2M	$1.9M	3x
Aster CASHCATUSDT	+0.2189%	1h	0.1679	−0.299%	$554K	$1.1M	10x	as long as short
Bybit CASHCATUSDT	+0.3006%	4h	0.1689	+0.297%	$12.9M	$18.7M	10x	as long as short
BingX CASHCAT-USDTshort	+0.3152%	4h	0.1690	+0.368%	—	$1.0M	—
MEXC CASHCAT_USDT	+0.3318%	4h	0.1686	+0.119%	$8.4M	$475K	20x	as long as short
Arcus CASHCAT-USD	+0.3384%	1h	0.1675	−0.499%	$115K	$218K	5x	as long as short
Injective CASHCAT/USDC PERP	+0.5000%	1h	0.1695	+0.665%	$8K	$12K	5.5x	as long as short